Key Points
- Insider sale: Director David Wenner sold 19,500 shares on March 13 at an average price of $5.19 for $101,205, reducing his stake by 2.42% to 787,566 shares.
- Dividend announced: B&G Foods declared a $0.19 quarterly dividend ($0.76 annual, a 15.1% yield) with an ex-dividend date of March 31 and payment on April 30; the company reports a payout ratio of -140.74%, which may signal sustainability concerns.
- Market and analyst context: Shares trade near $5.05 with a $403M market cap and a negative PE, analysts have an average "Reduce" rating with a $4.70 consensus target, while the most recent quarter delivered $0.28 EPS (in line) and revenue down 2.2% year-over-year.
B&G Foods, Inc. (NYSE:BGS - Get Free Report) Director David Wenner sold 19,500 shares of the business's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total value of $101,205.00. Following the completion of the sale, the director owned 787,566 shares in the company, valued at $4,087,467.54. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
B&G Foods Price Performance
NYSE BGS opened at $5.05 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. The company has a market cap of $403.45 million, a PE ratio of -9.34 and a beta of 0.46. B&G Foods, Inc. has a 52 week low of $3.67 and a 52 week high of $7.49. The firm's 50-day simple moving average is $4.86 and its two-hundred day simple moving average is $4.61.
B&G Foods (NYSE:BGS - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The firm had revenue of $539.56 million during the quarter, compared to the consensus estimate of $537.50 million. During the same quarter last year, the company earned $0.31 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. Research analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current year.
B&G Foods Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 15.1%. The ex-dividend date is Tuesday, March 31st. B&G Foods's payout ratio is currently -140.74%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on BGS shares. Weiss Ratings restated a "sell (d)" rating on shares of B&G Foods in a research report on Monday, December 29th. Evercore set a $5.00 price target on B&G Foods in a research report on Wednesday, March 4th. Barclays increased their price objective on B&G Foods from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Finally, TD Cowen restated a "sell" rating on shares of B&G Foods in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $4.70.
Read Our Latest Research Report on B&G Foods
Institutional Trading of B&G Foods
Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in B&G Foods by 324.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,707,044 shares of the company's stock valued at $15,940,000 after purchasing an additional 2,833,090 shares during the period. Millennium Management LLC increased its holdings in shares of B&G Foods by 15,131.8% in the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock worth $12,970,000 after purchasing an additional 1,875,589 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of B&G Foods by 26.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,377,381 shares of the company's stock worth $14,523,000 after purchasing an additional 705,958 shares during the period. Bank of America Corp DE raised its position in shares of B&G Foods by 142.7% in the second quarter. Bank of America Corp DE now owns 1,193,473 shares of the company's stock worth $5,048,000 after buying an additional 701,660 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of B&G Foods by 566.8% in the second quarter. Marshall Wace LLP now owns 700,640 shares of the company's stock worth $2,964,000 after buying an additional 595,571 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
About B&G Foods
(
Get Free Report)
B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.
The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.
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